By Shuli Ren

REUTERS

Fed Vice Chairwoman Janet Yellen is now seen as the frontrunner for the Fed Chairman job. An announcement this week is not likely. If she was chosen, it would likely be seen as a sign of continuity at the Fed.

Emerging markets are waiting to see what the Fed would say at its meeting tomorrow. The consensus expectation is $10 billion tapering a month. The Hong Kong Hang Seng Index lost 0.3%.

China‘s FDI in August rose only 0.6% from a year earlier, significantly lower than the 12.5% growth polled by Bloomberg. The Shanghai Stock Exchange Composite Index fell 2.1% today, with traders taking profit before the October holidays. China’s stock markets are closed this Thursday and Friday.

Just as U.S. dialed down on the talk of a military action in Syria, Turkeyshot down a Syrian helicopter, the first such instance since the Syrian civil war started more than two years ago. Turkey is deeply uncomfortable with a volatile Assad regime. The Borsa Istanbul National 100 Index lost 0.4%.

Brazil will announce today whether its president Dilma Rousseff will visit the U.S. in late October or reschedule. Brazil is annoyed by U.S. wiretapping its companies and citizens, including President Rousseff. It has not conducted a state visit with the U.S. since 1995.

China’s largest offshore oil and gas producer Cnooc (CEO) said it received approval to list an ADR on Toronto Stock Exchange. It is part of Cnooc’s commitment to win Canada’s approval for its acquisition of Nexen Inc.

About Emerging Markets Daily

Emerging markets have been synonymous with growth, but the outlook for individual nations is constantly changing. Countries from Brazil and Russia to Turkey face challenges including infrastructure bottlenecks, credit issues and political shifts. The Barrons.com Emerging Markets Daily blog analyzes news, data and research out of emerging markets beyond Asia to help readers navigate the investment landscape.

Barron’s veteran Dimitra DeFotis has been blogging about emerging market investing since traveling to India and Turkey. Based in New York, she previously wrote for Barron’s about U.S. equity investing, including cover stories and roundtables on energy themes. Dimitra was among the first digital journalists at the Chicago Tribune and started her career as a police reporter at the Daily Herald in the Chicago suburbs. Dimitra holds degrees from the University of Illinois and Columbia University, where she was a Knight-Bagehot Fellow in the business and journalism schools.